OREANDA-NEWS. December 10, 2010. The International Monetary Fund has downgraded the forecast for Russian GDP growth in 2010 from 4.25% to 3.7%.

The estimate for 2011 has been upgraded from 4% to 4.3%, the head of the IMF mission, Juha Kahonen said. “We note the GDP growth in Russia has slowed down somewhat in 2010 because of the summer events, namely drought, but believe the decline is of temporary nature, even though related to uncertainty in respect of global economic recovery rates”, Kahonen said. “GDP growth is unlikely to speed up in the mid-term unless Russia strengthens its monetary policy and carries out essential structural reforms”, Kahonen underlined.